stockmktdouble (51.18)

STOCKMARKETDOUBLE DIARY JULY 2, 2013

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Yesterday I missed the daily entry. It was the first time I had missed entry since I started this journey. Anyway, my syle of investing is like watching paint dry. But hey it doesnt have to be exciting to be making money. As I have mentioned, I do this every trading day on Motley Caps to record my performance-because once you post here, you cant edit it, so once it published, there is no going back. So its a good way to accurately record performance. Anyway, with that said, the position I hold SUNE was down almost 3% today and considering I am short, thats a good thing.

The whole purrpose of this exercise is to see if I can trade my way to a double in the market in less than one year. See the resilts below.

Update for Tuesday, July 2, 2013:

Current position-short 1622 shares of SUNE at $8.45

Closed Trades:5/17-short 942 shares of RDN at $13.696/17-covered position on RDN at $12.92 (6% gain)

Thanks for following. Hope you are having a nice 4rth. I shorted SUNE for 2 reasons. The stock had run up from $1.70 to $8.45 (price I shorted at) in less than one year, an increase of 497%.

I screen for stocks like that and then, in this case, I looked at their projected earnings. Using these measures, SUNE was priced more than 2x its value. To me, the price was not sustainable. Anyway, thats how I arrived at my conclusion. The whole exercise is fun. I take a small % of my account and see if i can double it by continuosly re-investing whatever the proceeds are.